Jack Ma's run-in with Beijing not only saw him disappearing for over 2 years, it led to his wealth tanking by half and cost his companies hundreds of billions
Jack Ma's empire came under regulatory scrutiny following his criticism of Beijing in late 2020.Jack Ma's wealth tanked by half to about $30 billion due to massive losses in Alibaba and Ant's valuations from October 2020.On Friday, Beijing announced a $985 million fine for Ant Group, signaling an end to the crackdown.
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